Altice USA (NYSE:ATUS) Reaches New 12-Month High - Should You Buy?

Altice USA, Inc. (NYSE:ATUS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.20 and last traded at $2.80, with a volume of 1896827 shares. The stock had previously closed at $2.71.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATUS. Citigroup increased their target price on Altice USA from $2.50 to $3.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. TD Cowen reduced their price objective on Altice USA from $6.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Altice USA currently has a consensus rating of "Hold" and a consensus target price of $2.30.

Altice USA Stock Performance

The company's 50-day simple moving average is $2.65 and its two-hundred day simple moving average is $2.39. The firm has a market cap of $1.31 billion, a PE ratio of -7.66 and a beta of 1.52.

Altice USA (NYSE:ATUS - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.16). On average, analysts expect that Altice USA, Inc. will post -0.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director Alt S.A.R.L. Next sold 805,230 shares of Altice USA stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $24.50, for a total transaction of $19,728,135.00. Following the transaction, the director now owns 6,651,882 shares in the company, valued at approximately $162,971,109. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 8,857,515 shares of company stock valued at $217,009,118. Corporate insiders own 52.90% of the company's stock.

Institutional Trading of Altice USA

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Altice USA by 30.2% in the third quarter. US Bancorp DE now owns 21,530 shares of the company's stock valued at $53,000 after buying an additional 5,000 shares during the last quarter. Swiss National Bank boosted its stake in Altice USA by 2.0% in the 4th quarter. Swiss National Bank now owns 407,700 shares of the company's stock worth $983,000 after purchasing an additional 8,000 shares in the last quarter. LPL Financial LLC acquired a new position in Altice USA during the 4th quarter valued at approximately $25,000. Quadrature Capital Ltd acquired a new position in shares of Altice USA in the 3rd quarter valued at $27,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Altice USA in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 54.85% of the company's stock.

About Altice USA

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States, Canada, Puerto Rico, and the Virgin Islands. It offers broadband, video, telephony, and mobile services to residential and business customers. The company's video services include delivery of broadcast stations and cable networks; over the top services; video-on-demand, high-definition channels, digital video recorder, and pay-per-view services; and platforms for video programming through mobile applications.